1. Considered and Appointed Mr. Niranjan Navratanmal Jain (DIN: 00282842) as an Additional Director under Executive category subject to necessary approvals. The Appointment of Mr. Niranjan ....
Awaiting price reaction for this filing.
Mahan Industries Ltd, an Ahmedabad-based NBFC, held a board meeting on May 2, 2025. The board appointed Mr. Niranjan Navratanmal Jain (DIN: 00282842) as an Additional Director under the Executive category. His appointment will take effect only after receiving Reserve Bank of India approval, which is required because the company operates as an NBFC. Mr. Jain is a fellow Chartered Accountant with over 30 years of finance experience, including prior work as a statutory auditor for various NBFCs and serving as a director in other companies. He is not related to any existing board directors and holds 500 shares in the company. The appointment was recommended by the Nomination and Remuneration Committee.
The appointment of a senior finance professional with NBFC experience could strengthen the board's oversight capabilities, but it is not yet effective and remains pending RBI clearance. Shareholders should wait for confirmation of regulatory approval before viewing this as a completed change.